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Housing Development Finance Corporation informs about outcome of board meeting

27 Mar 2023 Evaluate

Housing Development Finance Corporation has informed that at the meeting of the Board of Directors of the Corporation held today on March 27, 2023, the Board granted its approval for the following: Issuance of unsecured redeemable non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, in accordance with the approval granted by the shareholders of the Corporation at the 45th Annual General Meeting held on June 30, 2022 and Increase in the overall borrowing powers of the Corporation from Rs 6.00 lac crore to Rs 6.50 lac crore, outstanding at any point of time and recommended the same for approval of the Members of the Corporation by way of postal ballot. The said decision was taken since the outstanding borrowings of the Corporation as on date is approx. Rs 5.70 lac crore and the Corporation would need to borrow further for its business purposes till the effective date of merger. The Board meeting commenced at 12.30 pm and concluded at 1.45 pm.

The above information is a part of company’s filings submitted to BSE.




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